The Renaissance, which opened in early 2002, includes 50,000 sf of meeting facilities and is in the heart of Hollywood at Trizec's Hollywood & Highland entertainment and retail complex.
Art Buser, managing director and head of West Coast operations for Jones Lang LaSalle Hotels, says he expects a high level of interest from prospective buyers because Trizec was already receiving unsolicited inquiries about the property before it was listed. He doesnÕt mention a specific price, but he says the hotel "will be priced on its bright future income potential." The hotel is one of numerous projects completed in recent years as part of a continuing revitalization of Hollywood. The hotel goes on the market at a time when relatively fewer West Coast hotels are selling, according to recent market reports, but buyers are paying more for the deals that do close.
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